IndusInd Bank suffered a sharp 30% decline in March due to financial issues, making it one of the biggest losers in the market. Along with IndusInd, major tech stocks like Infosys and Wipro saw losses between 3.8% and 5%, while Maruti, Bajaj Finserv, and Hero MotoCorp also struggled.
Chakri Lokapriya, CIO - Equities at LGT Wealth, suggests caution on IndusInd Bank, recommending investors look at other banking stocks that offer better value. Vaishali Parekh, VP of Technical Research at Prabhudas Lilladher, mentions that while IndusInd has bounced from a key support level, the stock has yet to show a confirmed uptrend. With many other banking stocks offering more clarity, experts advise waiting for IndusInd to settle down before considering it a buy. Investors should keep an eye on both value and momentum to make more informed decisions in the current market conditions.